By Dan Darrow
November 21, 2022
Intraday Update: ZM
ZM is one of the big names scheduled to report earnings this week, and the numbers are due out after the close today. The stock is currently hanging around 80 this afternoon having traded as low as 70.92 and as high as 89.37 in the last two weeks. The Dec16 strangle has been open since the middle of October, and the bull side has already been rolled to remove some money from the trade. The stock is roughly evenly split between the call spread and put spread ahead of earnings, and a large swing on the report should put either in play. With the weekly Nov25 straddle pricing in $10.50, the current contracts should be in play if it matches or exceeds what is expected. The position will remain open into the report today, but if you are more risk averse, now would be a good time to size down or exit the trade.
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**As of the date and time of publication